Vehicle Loan

New - Used

The loan is secured by a title to an automobile, truck, motorcycle, RV, ATV, or boat.  Vehicles being purchased from a dealer should be accompanied with the bill of sale.  Used vehicles may require an appraisal if the Credit Committee deems one necessary.  The vehicle ID number must be given to the Committee before the loan papers are drawn up.  Proof of fire, theft, and collision insurance with a $500 deductible and a loss payable clause to the Credit Union is required.

• Maximum amount is based on the NADA book value.
• Maximum term is determined by the book value of the vehicle.
• Rates are determined by the value of the vehicle, the percent of that value to be financed, and the length of time to be financed.

New Vehicle Loans - Effective March 20, 2008

All Automobiles, Trucks, Motorcycles and Motor homes

• 2007 and 2008 New Vehicles (never titled, under 5,000 miles)
• Loan limit - 90% of Manufacturer's Suggested Retail Price

Other rates, terms, and limits (up to 100% financing) are available or
may apply depending on lending criteria.

All other titled vehicles - Boats and Trailers, Travel Trailers, ATV's, Jet Skis, etc.

• 2007 and 2008 New Vehicles
• Loan limit - 90% of Manufacturer's Suggested Retail Price
• Share Pledge - 5% of Outstanding Loan Balance

Other rates, terms, and limits are available or
may apply depending on lending criteria.

Used Vehicle Loans - Effective March 20, 2008

All Automobiles, Trucks, Motorcycles and Motor homes

• Model Year 2002 and Newer Used Vehicles
• Loan Limit  -  95% of NADA Average Retail Value

Other rates, terms, and limits are available or
may apply depending on lending criteria.
 

All other titled vehicles - Boats and Trailers, Travel Trailers, ATV's, Jet Skis, etc.

• Model Year 2002 and Newer Used Vehicles
• Loan Limit  -  95% of NADA Average Retail Value
• Share Pledge - 5% of Outstanding Loan Balance

Other rates, terms, and limits are available or
may apply depending on lending criteria.